OnDeck Swings to Q4 Profit on Lower Provision Charges

OnDeck reported Q4/17 net income of $5.1 million compared to a net loss of $35.9 million for the same quarter in 2016. Q4/17 provision charges of $34.4 million compared to $55.7 million for the same quarter a year earlier.

OnDeck Narrows YTD Net Loss on Higher Interest Income

OnDeck announced year-to-date through September net loss of $18.7 million was down 62% from $49.0 million in the same period in 2016. Year-to-date interest

OnDeck Launches Venture to Enable Real-Time Small Business Loans

OnDeck launched a collaboration with Ingo Money and Visa to enable real-time funding of loans to small businesses via their debit cards, powered by Visa Direct.

Former OnDeck Director Joins Pearl Capital as Chief Revenue Officer

Jared Kogan joined Pearl Capital Business Funding as chief revenue officer. Kogan has spent 10 years in the fintech space, most recently as director of OnDeck’s broker division.

OnDeck Marks 10th Anniversary, Extends Agreement with Chase

In August 2007, OnDeck closed its first online commercial loan. To date, OnDeck has provided more than $7 billion in capital to more than 70,000 customers. The company has extended its collaboration with JPMorgan Chase for four more years.

OnDeck Reports Lower Q2 Losses; Originations Down on Loan Tightening

OnDeck reported lower Q2/17 net losses compared to the same quarter in 2016. Loan volume of $464.4 million was down from $589.7 million a year earlier. YTD provision charges of $78.9 million were up 37% from $57.7 million a year earlier.

OnDeck Partners With Payment Source in Canada

Online small business lender OnDeck has launched a partnership with Payment Source, the largest retail distribution network for prepaid products in Canada.

SunTrust Extends OnDeck $100MM Revolver

Online lender OnDeck extended its current $100 million asset-backed revolving credit facility with SunTrust Bank to November 2018.

OnDeck Reports Q1 Net Loss Despite 48% Increase in Revenue

OnDeck reported a Q1/17 net loss of $11.1 million despite a gross revenue increase of $30.3 million, which was partially offset by loan loss charges of $46.2 million, up from $25.4 million in Q1/16.

Deutsche Upsizes OnDeck ABL Revolver to $100MM

Fintech lender OnDeck amended its credit agreement with Deutsche Bank, increasing the revolving commitment from $75 million to $100 million and extending the period to May 3, 2019.